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Endo (ENDP) Beats Q3 Earnings & Sales Estimates, Raises View

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·3 min read
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Endo International plc’s ENDP third-quarter earnings of 80 cents per share beat the Zacks Consensus Estimate of 46 cents and increased from 52 cents in the year-ago quarter.

Revenues came in at $772 million in the third quarter, surpassing the Zacks Consensus Estimate of $668 million. Revenues rose 22% from the year-ago quarter due to increased revenues from the Sterile Injectables, Generic Pharmaceuticals and Branded Pharmaceuticals segments.

Shares of the company increased in pre-market trading on the third-quarter results. Endo has lost 31.2% in the year so far compared with the industry’s 13.6% decline.

Zacks Investment Research
Zacks Investment Research

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Quarterly Highlights

Endo has four reportable business segments — Branded Pharmaceuticals, Generic Pharmaceuticals, Sterile Injectables and International Pharmaceuticals.

Branded Pharmaceuticals’ revenues were $231 million compared with $224 million in the year-ago quarter. Within the segment, Specialty Products revenues increased 16% to $162 million. Sales of Xiaflex increased 20% to $106 million. However, Established Products revenues decreased 17% to $69 million.

Sterile Injectables’ revenues came in at $344 million, up 37% year over year due to increased Vasostrict revenues, primarily attributable to hospitalizations associated with the COVID-19 Delta variant.

Generic Pharmaceuticals reported sales of $174 million in the quarter, up 29% due to additional revenues from the 2021 product launches.

International Pharmaceuticals revenues came in at $23 million, down from $24 million.

2021 Guidance Updated

Revenues for 2021 are projected to be $2.90-$2.94 billion compared with the earlier projected range of $2.73-$2.79 billion. Adjusted earnings per share are now estimated to be in the range of $2.80-$2.85 (previous estimate: $2.15-$2.30).

Endo International plc Price, Consensus and EPS Surprise

Endo International plc Price, Consensus and EPS Surprise
Endo International plc Price, Consensus and EPS Surprise

Endo International plc price-consensus-eps-surprise-chart | Endo International plc Quote

Our Take

Endo reported better-than-expected results for the third quarter due to increased revenues from its Sterile Injectables, Generic Pharmaceuticals and Branded Pharmaceuticals segments. The company’s efforts to revive its business are encouraging. Qwo has been launched and the initial uptake seems encouraging.

The company recently announced that a California-state court has ruled in favor of Endo and a few other companies in the litigation filed against manufacturers of prescription-opioid medications.

Zacks Rank & Other Stocks to Consider

Endo currently carries a Zacks Rank #2 (Buy).

Some other top-ranked stocks in the healthcare space include Regeneron Pharmaceuticals REGN, Alkermes ALKS and Amicus Therapeutics FOLD. While Regeneron and Alkermes sport a Zacks Rank #1 (Strong Buy), Amicus carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Earnings estimates for Regeneron Pharmaceuticals have moved up $1.86 for 2021 in the past 30 days. The stock is up 34.1% year to date.

Earnings estimates for Alkermes have moved up 7 cents for 2021 in the past 30 days. The stock is up 52.2% year to date.

Loss estimates for Amicus have narrowed by 2 cents in the past 90 days.


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Regeneron Pharmaceuticals, Inc. (REGN) : Free Stock Analysis Report

Endo International plc (ENDP) : Free Stock Analysis Report

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Amicus Therapeutics, Inc. (FOLD) : Free Stock Analysis Report

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